Madrigal raises ~$472M in stock/warrant offering to fund resmetirom launch prep

MADRIGAL PHARMACEUTICALS, INC.

Offering of 1,248,098 shares at $151.69 and 2,048,098 pre-funded warrants at $151.6899 per warrant.
Estimated net proceeds ~$472M (excluding underwriter's option); closing expected Oct 3, 2023.
Proceeds for clinical/commercial activities for potential U.S. launch of resmetirom and general corporate purposes.
Underwriters have 30-day option to purchase up to 494,429 additional shares.
Directors and executive officers subject to 60-day lock-up without underwriter consent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MADRIGAL PHARMACEUTICALS, INC. entered into Underwriting Agreement with Goldman Sachs & Co. LLC, as representative of the several underwriters named therein valued at approximately $472.0 million (effective 2023-09-28).

Action: entry
Agreement: underwriting
Counterparty: Goldman Sachs & Co. LLC, as representative of the several underwriters named therein
Value: approximately $472.0 million
Effective: 2023-09-28

Exact text from the filing

Madrigal Pharmaceuticals, Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Goldman Sachs & Co. LLC, as representative of the several underwriters named therein

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MADRIGAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-249192

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